Ecclestone trial discontinued after £60m settlement

The bribery trial against Formula One boss Bernie Ecclestone will be discontinued for the moment, a Munich district court said.

The 83-year-old went on trial in April over allegations he bribed a former German banker as part of the sale of a major stake in the motorsport business eight years ago.

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Ecclestone lawyer: Paying £60m in a week 'do-able'

Bernie Ecclestone's defence lawyer has said it is "do-able" for the Formula 1 tycoon to pay out £60m within a week.

A district court in Munich said Mr Ecclestone, 83, had offered to pay the cash to end a trial for bribery.

The state prosecutor told the court that Mr Ecclestone's age and other circumstances meant they would support the offered settlement.

Bernie Ecclestone arrives at the district court in Munich. Credit: Sven Hoppe/DPA/Press Association Images

The billionaire could face up to 10 years in jail and have to give up control of his business if he is found guilty.

A spokeswoman for the Munich court pointed out that under German law settling the case with a payout did not amount to an admission of guilt.

"With this type of ending a procedure there is no ruling on guilt or innocence of the defendant," she said.

"He is neither acquitted nor judged, rather this is a special type of ending a procedure which is in theory available to all types of cases."

F1 boss Ecclestone offers £60m payment to end trial

Formula One boss Bernie Ecclestone has offered to make a $100 million (£60m) payment in order to end a trial on bribery charges, a court in Germany heard.

Formula One boss Bernie Ecclestone. Credit: BREUEL-BILD/LSP-BorisKorpak/DPA

State prosecutors in Munich said they would agree to accept the offer, according to Reuters.

The 83-year-old went on trial in April over allegations he bribed a former German banker as part of the sale of a major stake in the motorsport business eight years ago.

Ecclestone's age and other circumstances supported the acceptance of a settlement, the state prosecutor said.

The British billionaire could have faced up to 10 years in jail and would have had to cede control of a business he has built up over the past four decades.

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